''The Georgian government has increased an interest rate for co-financing agro-credits,'' Minister of Agriculture Levan Davitashvili said when presenting an anti-crisis plan for agriculture today.
The new bank services for agriculture include the following:
- About 5,000 – 100,000 GEL loans with full 17% co-financing. The co-financing period equals six months.
- Co-financing component for critical facilities – loan from 20,000 to 1,500.000 GEL, with 48 months co-financing period.
- The food industry facilitation component includes a loan from 1,500.001 GEL to 5,000.000 GEL with 10% co-financing for 24 months.
- The government will fully finance the loans for one-year cultures.
The agro-credit budget was 74 million GEL earlier, but the government has allocated 7,5 million GEL besides.
The Georgian government plans to spend 10 million GEL for agriculture modernization.